The Parliament of the Republic of Latvia adopted amendments to the immigration law to provide "additional opportunities to obtain a residence permit in Latvia." new residency program in Latvia is already facing political tests, as a former mayor of Moscow, known for his harsh criticism of the Latvian government recently apply for residency under the program. It has also been criticized by other EU countries, using the argument that could allow criminals mafia type easy access to the European Union.
As, however, no residence option Latvia compare with the residency program Malta, officially known as the 2004 name Scheme Regulations residents have written in the past?
Both and neither is ideal ... Latvia freezing winters are just ... long and cold. Andorra is not technically in the Schengen area, but for all practical purposes, is, therefore, possible to prepare a separate article on Andorra residence again. Malta, however, is the country's most densely populated Europe and can be dry and dusty. What about taxes? The two countries, in principle, tax residents on their worldwide income.
In Latvia, the income tax is 25%, while corporate tax is 15%. There is a special tax benefit in Latvia for foreign shipping companies to employees that do business there.
In Malta, those who apply under the Regulation In 2004, residents Scheme (Maltese program retired) and meet some stipulated conditions will be provided with a certificate issued by the Commissioner of Inland Revenue (Malta). This certificate is twofold: first, it acts as a Malta permanent residence permit issued under section 7 of the Immigration Act. Second, give the individual a special Maltese tax status which entitles him / her of the considerable benefits of income tax.
Residents with this state must pay a flat rate of 15% on their income Maltese website (including capital gains) and their foreign income transferred to Malta. 4192. Foreign income not remitted to Malta - in other words, your income over the world wants to win, gains unearned capital or anything else - is not taxed at all.
This tax benefit is increasingly useful, given the extensive network of double taxation agreements that Malta already over.
And as the management of a local company? In Malta, residents of this regime are simply not allowed to run a business. They should be retired, although of course there is no ban on the use of a company outside Malta. A resident of Malta could certainly operate an offshore company through a transparent tax Nevis LLC for example, and the bank continues to legally completely free Sea Malta tax.
In Latvia, on the other hand, entrepreneurs who want to invest in local companies are encouraged to open arms. The transaction is expected, however, to pay a minimum of 28,000 euros per year in taxes.
Overall, Latvia may be a good option for those who have business in Northern Europe. For example, if you are doing business in Russia and Latvia would be a great base.
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